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a)What is the total costing for job J2? b)If J2 consisted of 1,000 pipes being produced, what is the cost per pipe? c)What account is
a)What is the total costing for job J2?
b)If J2 consisted of 1,000 pipes being produced, what is the cost per pipe?
c)What account is debited to record the transfer from WIP for Job J2?
d)Assuming that overhead is allocated at the end of every month what is the balance in the work-in- process account at month end?
Ridge Company manufactures pipes for bagpipes. In June all outstanding orders were completed. In July the company worked on only two orders, Jl & J2. With the following characteristics Ridge Company, July 20XX J1 J2 Direct Materials $45,000 $32,000 Direct manufacturing labour (hours) 21,000 18,000 Direct Manufacturing labour is paid at a rate of $20 per hour. Manufacturing overhead costs are allocated at a budgeted rate of $25 per manufacturing hour. Only job J2 was completed in JulyStep by Step Solution
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